The future of bitcoin in 1 chart | Bitcointalksearch.org

HeRetiK

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Quote from: alyssa85 on August 21, 2017, 04:18:05 AM

Berkshire Hathaway gets it's value from the consistently good decision making of Warren Buffet

But you cannot say that people in the bitcoin space are making consistently good decisions - some of the things that have been happening since 2013 have been idiotic and damaging.

Warren Buffet's good decision making is based on buying undervalued stocks. Bitcoin itself is arguably an undervalued asset, which is why we see the appreciation that we do.

The problem with Bitcoin's decision making process is that there's no central leadership -- luckily. Thus you get a lot of conflicting interests that can stiffle progress in one way or another. I wouldn't want a Bitcoin with a central decision making authority however. There's too much power aggregated as is.

Quote from: Mallyx on August 21, 2017, 04:45:31 AM

@kwukduck,

your point of view is wrong.

That post just made my day Grin

orarider

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Quote from: somac. on August 16, 2017, 02:08:20 AM

Berkshire Hathaway. Limited supply, ever increasing demand. $267,100 a share. It is very possible that bitcoin can reach high values. Lots of dumps along the way, but, longterm up and up.

When the market is still desperate to buy bitcoin, the supply is likely to decline, and it is continuing to push the bitcoin value up, or at least, the bitcoin will stand still. It is very difficult for it to go down now.

Pierre 2

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I think that is quite possible in long term.
But $200k in long term could be nothing more than $20k for today's money. It will need so many years to reach that high levels.

Mallyx

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@kwukduck,

your point of view is wrong.

kwukduck

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Here's a more realistic one for Core coin.
I wish people would stop calling it Bitcoin. Only Bitcoin Cash is true to Satoshi's whitepaper and vision! Not this blockstream bankster scam.

alyssa85

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Berkshire Hathaway gets it's value from the consistently good decision making of Warren Buffet

But you cannot say that people in the bitcoin space are making consistently good decisions - some of the things that have been happening since 2013 have been idiotic and damaging.

Denker

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Quote from: vit05 on August 16, 2017, 05:31:00 PM

Berkshire Hathaway from today is different from the Berkshire Hathaway 30 years ago. How many changes will be necessary for Bitcoin continue to rise?

Bitcoin has changed a lot since 2009! And change will happen when it's needed.
So I'm not worried about that, not in the slightest!

Quote

Bitcoin supply is limited so its price can keep growing with increasing demand but this is not the only reason for increase in its value. Bitcoin actually offers a lot more features and freedom than usual payment systems and provides higher level of security than our local banks.

Bitcoin is decentralized, anonymous, cheap and fast method of payment which makes it more valuable than any other trading assets.

This is true. But you already see bad actors changing this with hardforking and branding their coin as Bitcoinxxx. The average joe who never studied Bitcoin and enters this space will not know the differences! My point is that bad actors, from inside or outside the community may see this as an opportunity to inflate Bitcoin and also enrich themselves! As lons as it is not made extremele clear that Coin x and coin y are not altcoins, many people who are could be tricked.And of course this is damaging the legacy coin.

somac.

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Quote from: fabiorem on August 16, 2017, 05:17:43 PM

Berkshire Hathway = telephone = analog = vinyl disc = cassete trading = physical stores
Bitcoin = internet = digital = flac = p2p = online stores

Can't compare one with the other.

I'm not comparing them, I'm using it as an example that assets with the right fundamanetals can go to very high valuations. There has been many predictions lately that bitcoin will go into the 100s of thousands, it seems impossible, and, tell the man in the street these predictions and he'll think you are crazy.

When berkshire started if you said to people that the price will be over $200,000 in 30 years they would have laughed. Big numbers just sound impossible, but, they are not. That's what I'm pointing out here.

fasdorcas

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Quote from: BitcoinBarrel on August 16, 2017, 10:19:58 AM

This is great for people that think it's impossible for Bitcoin to reach those levels. You have to remember that in the 1600s people were mortgaging their houses to buy Tulips, so it's not unlikely that a limited commodity like Bitcoin will reach such huge numbers.

Who said that bitcoin will not reach to high level as people are considering about bitcoin that it would not reach that level I must say to them that they are crazy people. Because many people have made a good decision to buy bitcoin to become a billionaire so how people are thinking that it would not reach it might be problem in their brains.

snowdropfore

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good example .i think bitcoin will be the same all the way up to the sky. to the mars .

LavaJack

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This very well may be the case, and the bitcoin community is the most powerful catalyst to bring it along. The most important factor is that the community itself continues to believe that what we have upheld has a true value that cannot be taken away.

Meatzine

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Quote from: BitcoinBarrel on August 16, 2017, 10:19:58 AM

You have to remember that in the 1600s people were mortgaging their houses to buy Tulips, so it's not unlikely that a limited commodity like Bitcoin will reach such huge numbers.

It is interesting that you bring this up because the argument is usually used in the opposite direction, i.e tulips crashed, therefore so will Bitcoin. I think The way you have used it is probably more true.

vit05

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Berkshire Hathaway from today is different from the Berkshire Hathaway 30 years ago. How many changes will be necessary for Bitcoin continue to rise?

fabiorem

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Quote from: aso118 on August 16, 2017, 04:02:34 PM

Berkshire Hathway took a long time (30+ years) to exhibit the growth you mentioned.
Bitcoin is already on its way and you might not have to wait so long. Wink

Berkshire Hathway = telephone = analog = vinyl disc = cassete trading = physical stores
Bitcoin = internet = digital = flac = p2p = online stores

Can't compare one with the other.

aso118

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Berkshire Hathway took a long time (30+ years) to exhibit the growth you mentioned.
Bitcoin is already on its way and you might not have to wait so long. Wink

Catmony

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Bitcoin supply is limited so its price can keep growing with increasing demand but this is not the only reason for increase in its value. Bitcoin actually offers a lot more features and freedom than usual payment systems and provides higher level of security than our local banks.

Bitcoin is decentralized, anonymous, cheap and fast method of payment which makes it more valuable than any other trading assets.

Torque

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Even with all the extreme volatility of BRK/A over the years at times. It looks like if someone would have invested just $8K into BRK/A when it was ~$4000 back in 88' would not only have crushed inflation long term, but be sitting on $500K of retirement today.

And this is for a stock that only a handful of people in the U.S. had the means to invest in. It only traded in the U.S. market, and only Mon.-Fri. during normal daytime stock market hours. Thus it took 30 years to reach this level.

Looks like a pretty good store of value to me.

Bitcoin won't take nearly that long. Wink

BrewMaster

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thanks for sharing this man. this is something that needs to be mentioned that this type of rising and seeing such high prices are not out of ordinary.

and i would like to add 2 things here:
1. this share has gone up $73,800 in its first 8 years
2. today the price went up $1205.00

BitcoinBarrel

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Fill Your Barrel with Bitcoins!

This is great for people that think it's impossible for Bitcoin to reach those levels. You have to remember that in the 1600s people were mortgaging their houses to buy Tulips, so it's not unlikely that a limited commodity like Bitcoin will reach such huge numbers.

somac.

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Never selling

Berkshire Hathaway. Limited supply, ever increasing demand. $267,100 a share. It is very possible that bitcoin can reach high values. Lots of dumps along the way, but, longterm up and up.

Topic: The future of bitcoin in 1 chart (Read 1121 times)